PEACHTREE GROUP PROVIDED $114.6 million in bridge loans to recapitalize two Hyatt hotels owned by McWhinney: Hyatt Centric Congress Avenue Austin, Texas, and Hyatt Place Denver Peña Station in Denver. The company originated a 48-month floating-rate bridge loan for the 246-room Austin hotel and a 60-month fixed-rate bridge loan for the 226-room Denver hotel, Peachtree said in a statement.
Peachtree is led by Greg Friedman, managing principal and CEO; Jatin Desai, managing principal and CFO; and Mitul Patel, principal.
“The Hyatt Centric Congress Avenue Austin is a standout property that embodies Austin’s energy and appeal,” said Jared Schlosser, Peachtree’s executive vice president of hotel originations and head of CPACE. “This recapitalization reflects our confidence in the asset’s potential and McWhinney’s vision for creating exceptional destinations.”
The Austin property, located downtown near the Paramount Theater, Moody Center, South by Southwest and Austin City Limits, was acquired by McWhinney in October 2019 and opened in February 2023, the statement said.
The Denver hotel, in the East/Airport lodging market, is near downtown Denver and Denver International Airport, Peachtree said. Opened in late 2019, its stabilization was delayed by the pandemic's impact on hospitality. The recapitalization loan gives McWhinney more time and resources to stabilize performance and maximize the property’s potential.
“This loan underscores our ability to support hospitality assets positioned for long-term success,” said Keegan Bisch, vice president of Peachtree’s Western region credit platform. “We’re thrilled to partner with McWhinney to help these properties reach their full potential.”
Peachtree is the seventh-largest U.S. commercial real estate investor-driven lender, according to the Mortgage Bankers Association’s latest loan origination rankings. As a direct lender, it offers permanent loans, bridge loans, mezzanine loans, CPACE financing, and preferred equity investments across all commercial real estate sectors.
Peachtree surpassed $1 billion in CPACE financing, completing 22 transactions across the U.S. in 2024, a record for the company. Hospitality, its largest segment, makes up 45 percent of the portfolio.
